The nightmare of digital currencies for investors Was gold falling more or the dollar? | The stock exchange rewarded the shareholders

In the week ending on 22nd of Mehr 1405, most of the investigated assets faced sales pressure and price reduction. Among all these assets, the stock market, ounce of gold and global copper were the only ones that rose in the last week.

Ambassador Arjan - Mehdi Safai: The week ending on 22 Mehr 1405 was a week of moving in different directions for the financial markets. While the Tehran Stock Exchange was able to register a positive return, the dollar and all kinds of coins and gold faced a price drop, and the cryptocurrency market was mostly in the negative range. In the global markets, the limited growth of gold and copper could not prevent the fall of silver. This divergence shows that this week, unlike periods where assets move in the same direction, each market was influenced by a different set of factors.

The efficiency of domestic markets in the week ending on 22 Mehr

In domestic markets, the total stock market index recorded the highest return among the main indices with a growth of 3.62%. This index increased from 8 million 131 thousand 92 units on Wednesday 15 October to 8 million 425 thousand 725 units on Wednesday 22 October. Equal weight index also increased by 3.51 percent, from 2 million 150 thousand 437 units to 2 million 225 thousand 816 units.

The closeness of the returns of these two indices shows that the weekly growth of the stock market is not limited only to the big symbols and smaller stocks have also performed positively on average. However, the continuation of this trend depends on the sustainability of demand and the reduction of external risks; Because the increase in political uncertainty can affect the path of the stock market by changing the expectations and caution of traders.

On the other side of the market, the dollar moved against the stock market and decreased by 0.61%; Its price went from 263 thousand tomans on 15 October to less than 262 thousand tomans on 22 October. At the same time, Imami coins fell by 1.30%, half coins by 1.46% and quarter coins by 2.36%. 18-carat gold also decreased by 1.54% from 26 million 420 thousand tomans to 26 million tomans.

Domestic silver experienced the biggest decrease among domestic assets with a drop of 5.08%. In general, the retreat of the dollar and the drop in the price of precious metals in the world market, along with the growth of the stock market, created a different picture of the domestic markets.

Yields of gold, silver and copper in the world market

In the global metal market, gold and copper had a positive week and silver had a negative week. Global gold rose 0.31% from $4,131 to $4,144. Copper also increased by 1.92% and reached $14,791 from $14,513. On the other hand, world silver decreased by 2.71%, from $60.25 to $58.62.

Changes in the American monetary policy are still one of the variables affecting the precious metals market. After the Federal Reserve raised interest rates in September, traders are weighing the possibility of another rate hike later this year. New York Federal Reserve President John Williams said in remarks on Oct. 13 that another rate hike in 2026 remains a possibility, though the decision will depend on economic data.

Higher interest rates and increased bond yields can increase the opportunity cost of holding gold; However, gold prices rose slightly this week. The limited movement shows that the market is still balancing inflation concerns, interest rate expectations and demand for safe assets.

The yield of cryptocurrencies in the week ending on 22 Mehr

The cryptocurrency market was mostly bearish this week, with none of the five cryptocurrencies surveyed posting positive returns. Solana had the weakest performance with a drop of 9.25%. The price of this cryptocurrency reached $118.13 on October 15 to $107.20 on October 22.

After Solana, XRP was down 6.03%. Ethereum also fell by 4.02% and BNB by 3.73%. Compared to other cryptocurrencies in this list, Bitcoin had a more limited decline and reached $83,464 with a decrease of 0.54% from $83,916.

The pressure on the cryptocurrency market should be examined in the context of macroeconomic developments. Changing expectations about US interest rates, increasing bond yields and fluctuating energy prices can change investors' willingness to accept risk. In recent days, concern about the continuation of inflationary pressures and the possibility of increasing the interest rate again, traders have turned their attention to the economic data of the United States. However, the decline of all cryptocurrencies cannot be attributed to monetary policy alone; Specific factors of each project and cash flow changes also play a role in their performance.